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Deveron Announces Changes in Board of Directors

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Deveron Corp. (TSXV: FARM), a leading agriculture services and data company in North America, has announced changes to its Board of Directors. Bill Linton, Chris Irwin, Joelle Faulkner, and Tim Close have resigned as directors, following the satisfaction of conditions precedent to a settlement agreement dated August 14, 2024. The company has appointed Ron Patterson and Albert Contardi as new directors, with Ron Patterson also taking on the role of Chair of the board.

The board now consists of five directors: Ron Patterson, Albert Contardi, David MacMillan, Roger Dent, and Greg Patterson. Despite these changes, Deveron's annual and special shareholder meeting is still scheduled for October 25, 2024, where shareholders will vote on the election of directors among other matters.

Deveron Corp. (TSXV: FARM), un'azienda leader nei servizi e dati agricoli in Nord America, ha annunciato dei cambiamenti nel suo Consiglio di Amministrazione. Bill Linton, Chris Irwin, Joelle Faulkner e Tim Close si sono dimessi come membri del consiglio, a seguito del soddisfacimento delle condizioni precedenti a un accordo di transazione datato 14 agosto 2024. L'azienda ha nominato Ron Patterson e Albert Contardi come nuovi direttori, con Ron Patterson che assume anche il ruolo di Presidente del consiglio.

Il consiglio ora è composto da cinque membri: Ron Patterson, Albert Contardi, David MacMillan, Roger Dent e Greg Patterson. Nonostante questi cambiamenti, l'assemblea annuale e straordinaria degli azionisti di Deveron è ancora programmata per il 25 ottobre 2024, durante la quale gli azionisti voteranno per l'elezione dei direttori e altre questioni.

Deveron Corp. (TSXV: FARM), una empresa líder en servicios y datos agrícolas en América del Norte, ha anunciado cambios en su Junta Directiva. Bill Linton, Chris Irwin, Joelle Faulkner y Tim Close han renunciado como directores, tras el cumplimiento de las condiciones previas a un acuerdo de conciliación fechado el 14 de agosto de 2024. La empresa ha designado a Ron Patterson y Albert Contardi como nuevos directores, con Ron Patterson también asumiendo el cargo de Presidente de la junta.

La junta ahora está compuesta por cinco directores: Ron Patterson, Albert Contardi, David MacMillan, Roger Dent y Greg Patterson. A pesar de estos cambios, la reunión anual y especial de accionistas de Deveron sigue programada para el 25 de octubre de 2024, donde los accionistas votarán sobre la elección de directores y otros asuntos.

Deveron Corp. (TSXV: FARM), 북미에서 선도적인 농업 서비스 및 데이터 회사, 이사회에 변경 사항을 발표했습니다. Bill Linton, Chris Irwin, Joelle Faulkner, 및 Tim Close가 이사로서 사임했습니다. 이는 2024년 8월 14일자 합의서의 선행 조건이 충족되었기 때문입니다. 회사는 Ron Patterson과 Albert Contardi를 새로운 이사로 임명했습니다, Ron Patterson은 또한 이사회의 의장 역할을 맡고 있습니다.

이사회는 현재 다섯 명의 이사로 구성되어 있습니다: Ron Patterson, Albert Contardi, David MacMillan, Roger Dent, 및 Greg Patterson. 이러한 변화에도 불구하고 Deveron의 연례 및 특별 주주총회는 여전히 2024년 10월 25일로 예정되어 있으며, 주주들은 이사 선출 및 기타 사항에 대해 투표할 것입니다.

Deveron Corp. (TSXV: FARM), une entreprise leader dans les services agricoles et les données en Amérique du Nord, a annoncé des changements dans son conseil d'administration. Bill Linton, Chris Irwin, Joelle Faulkner et Tim Close ont démissionné de leurs fonctions de directeurs, après avoir satisfait aux conditions préalables d'un accord de règlement daté du 14 août 2024. La société a nommé Ron Patterson et Albert Contardi comme nouveaux directeurs, Ron Patterson assumant également le rôle de président du conseil.

Le conseil est maintenant composé de cinq directeurs : Ron Patterson, Albert Contardi, David MacMillan, Roger Dent et Greg Patterson. Malgré ces changements, l'assemblée annuelle et extraordinaire des actionnaires de Deveron est toujours prévue pour le 25 octobre 2024, où les actionnaires voteront pour l'élection des directeurs parmi d'autres questions.

Deveron Corp. (TSXV: FARM), ein führendes Unternehmen für Agrardienstleistungen und Daten in Nordamerika, hat Änderungen in seinem Vorstand bekannt gegeben. Bill Linton, Chris Irwin, Joelle Faulkner und Tim Close haben ihre Ämter als Direktoren niedergelegt, nachdem die Voraussetzungen für eine Vergleichsvereinbarung vom 14. August 2024 erfüllt wurden. Das Unternehmen hat Ron Patterson und Albert Contardi als neue Direktoren ernannt, wobei Ron Patterson zusätzlich auch den Vorsitz des Vorstands übernimmt.

Der Vorstand besteht nun aus fünf Direktoren: Ron Patterson, Albert Contardi, David MacMillan, Roger Dent und Greg Patterson. Trotz dieser Veränderungen ist die jährliche und außerordentliche Hauptversammlung der Aktionäre von Deveron weiterhin für den 25. Oktober 2024 geplant, bei der die Aktionäre über die Wahl der Direktoren sowie weitere Angelegenheiten abstimmen werden.

Positive
  • Appointment of experienced directors Ron Patterson and Albert Contardi to the board
  • Ron Patterson, with 30+ years of experience in technology and financial services, appointed as Chair
  • Board restructuring completed in accordance with the settlement agreement
Negative
  • Resignation of four board members, potentially leading to loss of institutional knowledge
  • Uncertainty regarding the impact of board changes on company strategy and direction

Toronto, Ontario--(Newsfile Corp. - September 19, 2024) - Deveron Corp. (TSXV: FARM) ("Deveron" or the "Company"), a leading agriculture services and data company in North America, announces that further it its press release of August 15, 2024, the Company has satisfied the conditions precedent (the "Conditions Precedent") to the settlement agreement (the "Settlement Agreement") dated August 14, 2024, between the Company and certain parties (the "Settlement Parties").

In accordance with the Settlement Agreement, each of Bill Linton, Chris Irwin, Joelle Faulkner and Tim Close have resigned as directors of the Company. The Company wishes to thank each of them for their valuable contributions to the Company.

Ron Patterson and Albert Contardi have been appointed as directors of the Company, which has been fixed at five directors. Ron Patterson has been appointed the Chair of the board of directors of the Company.

Brief biographies of the newly appointed directors of the Company are as follows:

Ron Patterson, Chairman and Director - Mr. Patterson is a technology and financial services entrepreneur with 30+ years experience. He has wide ranging experience working with growth stage companies as either an operator, investor, or lender. He is co-founder of Accur8 Software Solutions, a software development company based in the United States and is an active Special Advisor to the Technology Lending Group of a Schedule I Canadian Bank. Ron previously co-founded MMV Financial, a specialty finance company that provided debt financing to technology companies across North America.

Albert Contardi, Director - Mr. Contardi is a consultant/adviser with over 15 years of legal, investment and capital markets experience. He is currently President of Generic Capital Corporation, a Toronto based exempt market dealer. Mr. Contardi's expertise involves advising and structuring corporate finance transactions in the mining, tech and bio-tech sectors to maximize the value of projects/assets. He has been called to the Ontario Bar and is a graduate of Queen's University Law School.

The board of directors is now comprised of Messrs. Ron Patterson, Albert Contardi, David MacMillan, Roger Dent and Greg Patterson. Notwithstanding the Settlement Agreement, the annual and special shareholder meeting of the Company is expected to be held as planned on October 25, 2024, to, among other things, elect the directors of the Company.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

About Deveron: Deveron is an agriculture technology company that uses data and insights to help farmers and large agriculture enterprises increase yields, reduce costs and improve farm outcomes. The company employs a digital process that leverages data collected on farms across North America to drive unbiased interpretation of production decisions, ultimately recommending how to optimize input use. Our team of agronomists and data scientists build products that recommend ways to better manage fertilizer, seed, fungicide, and other farm inputs. Additionally, we have a national network of data technicians that are deployed to collect various types of farm data, from soil to drones, that build a basis of our best-in-class data layers. Our focus is the US and Canada where 1 billion acres of farmland are actively farmed annually.

For more information and to join our community, please visit www.deveron.com/investors

David MacMillan
Chief Executive Officer
dmacmillan@deveron.com
Tel: 647-963-2429

This news release includes certain "forward-looking statements" within the meaning of that phrase under Canadian securities laws. Without limitation, statements regarding future plans and objectives of the Company are forward looking statements that involve various degrees of risk. Forward-looking statements reflect management's current views with respect to possible future events and conditions and, by their nature, are based on management's beliefs and assumptions and subject to known and unknown risks and uncertainties, both general and specific to the Company. Although the Company believes the expectations expressed in such forward-looking statements are reasonable, such statements are not guarantees of future performance and actual results or developments may differ materially from those in our forward-looking statements. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world-wide price of agricultural commodities, general market conditions, risks inherent in agriculture, the uncertainty of future profitability and the uncertainty of access to additional capital. Additional information regarding the material factors and assumptions that were applied in making these forward looking statements as well as the various risks and uncertainties we face are described in greater detail in the "Risk Factors" section of our annual and interim Management's Discussion and Analysis of our financial results and other continuous disclosure documents and financial statements we file with the Canadian securities regulatory authorities which are available at www.sedarplus.ca. The Company undertakes no obligation to update this forward-looking information except as required by applicable law. The Company relies on litigation protection for forward-looking statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/223894

FAQ

What changes were made to Deveron's Board of Directors?

Deveron announced the resignation of Bill Linton, Chris Irwin, Joelle Faulkner, and Tim Close as directors. Ron Patterson and Albert Contardi were appointed as new directors, with Ron Patterson also becoming the Chair of the board.

When is Deveron's (TSXV: FARM) next shareholder meeting?

Deveron's annual and special shareholder meeting is expected to be held on October 25, 2024, where shareholders will vote on the election of directors among other matters.

Who are the current members of Deveron's Board of Directors?

The current board of directors for Deveron consists of Ron Patterson (Chair), Albert Contardi, David MacMillan, Roger Dent, and Greg Patterson.

What is Ron Patterson's background in relation to his new role at Deveron (TSXV: FARM)?

Ron Patterson is a technology and financial services entrepreneur with over 30 years of experience. He has worked with growth stage companies as an operator, investor, and lender, and is co-founder of Accur8 Software Solutions.

DEVERON CORP

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